Bulgaria meanwhile had been making rapid and astonishing material progress. Railways were built, exports increased, and the general condition of the country greatly improved. It is the fashion to compare the wonderful advance made by Bulgaria during the thirty-five years of its new existence with the very much slower progress made by Serbia during a much longer period. This is insisted on especially by publicists in Austria-Hungary and Germany, but it is forgotten that even before the last Balkan war the geographical position of Bulgaria with its seaboard was much more favourable to its economic development than that of Serbia, which the Treaty of Berlin had hemmed in by Turkish and Austro-Hungarian territory; moreover, Bulgaria being double the size of the Serbia of those days, had far greater resources upon which to draw. From 1894 onwards Ferdinand’s power in his own country and his influence abroad had been steadily growing. He always appreciated the value of railways, and became almost as great a traveller as the German Emperor. His estates in the south of Hungary constantly required his attention, and he was a frequent visitor in Vienna. The German Emperor, though he could not help admiring Ferdinand’s success, was always a little afraid of him; he felt that Ferdinand’s gifts were so similar to his own that he would be unable to count on him in an emergency. Moreover, it was difficult to reconcile Ferdinand’s ambitions in extreme south-eastern Europe with his own. Ferdinand’s relations with Vienna, on the other hand, and especially with the late Archduke Francis Ferdinand, were both cordial and intimate.